Italy takes the helm of the G7 in 2024 against a backdrop of shifting global dynamics, amplified by the lingering effects of the COVID-19 pandemic. At a time when multilateralism is facing unprecedented challenges, and the global order is in flux, the demand for leadership is high. 

The G7, a group of the world’s most industrialized nations—Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States—along with the EU as a de facto member, has always been more than just a gathering of economic powerhouses. Since its inception in 1975, in response to the 1973 Oil Shock, the G7 has evolved from addressing financial threats to tackling broader global challenges like democracy, human rights, and climate change. This year, Italy has the responsibility to steer the G7 through a world that looks vastly different from the one that existed even a decade ago.

Italy’s G7 presidency will grapple with a host of pressing issues. First on the agenda is the equitable distribution of post-pandemic funds. The economic and productive revitalization of nations hit hard by COVID-19 remains a critical challenge. The G7’s multilateral agenda also includes peace and security, global governance, energy transitions, climate action, economic development, and digital opportunities for a secure future. These are no small tasks, and the outcomes of these discussions will have far-reaching implications for the global community.

A significant aspect of this year’s G7 is the attempt to understand the current international scene, which many argue reflects the end of the post-American unipolar world. From the late 1990s to today, the global order has been undergoing a transformation, moving towards a more multipolar world. This shift presents both challenges and opportunities for the G7, particularly for Italy as it seeks to position itself not just as a key player within the EU and NATO, but as a central actor on the global stage.

The recent G7 summit in Apulia, from June 13-15, provided Italian Prime Minister Giorgia Meloni with a platform to assert Italy’s growing influence. Italy’s role as a strategic partner in the EU and NATO was on full display, as was its commitment to addressing crucial global issues such as humanitarian aid, migration, security, and defense. The summit underscored Italy’s ambition to be more than just a participant in international affairs; it seeks to be a leader in shaping the future of global governance.

One of the most pressing topics at the summit was the ongoing conflict in Ukraine. The G7 leaders reaffirmed their solidarity with Ukraine, emphasising the need to support the country’s reconstruction and to financially dismantle Russia’s military capabilities. This stance highlights the G7’s commitment to upholding international law and resisting aggression, but it also raises questions about the long-term implications for global stability.

The situation in Israel and Palestine also took center stage, with the G7 calling for an end to military actions and a focus on protecting civilian lives. This plea for peace is crucial, but it also reflects the limitations of the G7’s influence in regions where deep-seated conflicts persist.

Leaders also discussed forming strategic partnerships with Africa, following the Sustainable Development Goals (SDGs) to alleviate global poverty, reinforcing food security, and promoting gender equity. Climate change, loss of biodiversity, and pollution were also major concerns, as was the need to address irregular migration, organised crime, and human trafficking. Additionally, the summit highlighted the importance of clean energy and digital innovation as tools for creating prosperity and jobs in a rapidly changing world.

A notable aspect of the Apulia summit was the inclusion of key players in the emerging multipolar world, such as Pope Francis and leaders from Algeria, Argentina, Brazil, India, Jordan, Kenya, Mauritania, Tunisia, Turkey, and the UAE. Their presence underscores a growing recognition that the challenges we face are global in nature and require new, inclusive approaches to international cooperation.

The post-pandemic era has reminded world leaders of the need for robust international cooperation. The COVID-19 crisis, following the global financial crisis of 2008, has exposed and exacerbated structural inequalities, making it clear that the international liberal order that dominated the late 20th century is no longer adequate. Globalisation, once seen as a panacea for economic growth, has instead deepened disparities, making the creation of a sustainable global economy an urgent priority.

For the EU, this moment is particularly critical. The drive to rebuild its strategic autonomy is about more than just economic resilience; it’s about asserting its role as a global actor. This means not being solely tethered to European interests or the transatlantic alliance, but also engaging meaningfully with emerging powers like China, India, and Africa. The G7, under Italy’s leadership, must navigate these complex dynamics and help shape a new international architecture that reflects today’s realities.

The shifts in global multilateralism are clearly reflected in the objectives of the Italian-led G7. The inclusion of diverse nations and leaders at the summit signals a recognition of the interconnectedness of today’s world. Europe, and Italy in particular, are positioning themselves as champions of this interdependence, understanding that their future is tied not just to the transatlantic relationship but to the broader global community, including Africa, Central Asia, the Indo-Pacific, and Latin America.

Finally, there is a clear alignment between the G7’s current objectives and the concerns of the EU and Italy regarding policymaking in 2024. The pandemic has shown that economic inequalities have worsened globally, demanding concrete actions from the world’s most industrialised nations. Jobs, sustainability, resilience, and cooperation must be at the core of these efforts if we are to achieve a fairer world order.

Italy’s G7 presidency has the potential to set a new course for international cooperation. By addressing these global challenges with clarity and purpose, Italy can help shape a future where multilateralism is not just a concept but a functional reality, guiding the world towards a more equitable and sustainable future.

Mariana Polizzi (International Relations Institute – National University of La Plata (IRI UNLP)) is an Italian Argentine political scientist and internationalist, researcher, editor, and PhD in Social Sciences (Politics and International Relations). Her main research topics include: European and Italian Politics; Foreign Policy of Italy and the EU; Europe & Latin American Relations; and Global Rising of Right Wing Politics. Email: marianafpolizzi@gmail.com. LinkedIn: @marpolizzi.

This article is published under a Creative Commons License and may be republished with attribution.